Fitzroy River (new name) holds a 2% well head royalty over all...

Fitzroy River (new name) holds a 2% well head royalty over all of the ground that Buru have done any work on. So that's 4% of the value of Buru (since it only owns half) plus a premium for the wellhead royalty vs exploration and lift cost.

Additionaly it owns 25% of the unlisted but highly regarded European Gas Ltd.

The board spill brought in two fresh faced and well regarded directors who have skin in the game..recognise Thomas from the Buru Top 20?

One to watch once control has bedded down. Until then could be a bit teary as the old guard moves on.